Crypto Exchange Coinbase Adds Support for Altcoin Built on Ethereum (ETH) as Markets Halt
An interoperability protocol focused on ease of use has just joined the leading US-based crypto exchange’s trading list.
In a new post, Coinbase says the Celer Network (CELR) is now live across its platform, including on its iOS and Android apps.
The Celer Network scaling platform was built on Ethereum (ETH) and is designed to enable off-chain transactions in a secure manner.
The project aims to be a “multi-blockchain operating system” that offers a one-click user experience for a variety of niches, including decentralized finance (DeFi), non-fungible tokens (NFT), gaming, as well as decentralized application development (DApps ).
Its native utility token CELR can be used for staking to facilitate the network’s consensus mechanism as well as pay for network fees.
The Celer Network (CELR) is now live on and in the Coinbase iOS and Android apps. Coinbase customers can log in to buy, sell, convert, send, receive or store this asset. pic.twitter.com/IMbrZbaGiL
— Coinbase Assets (@CoinbaseAssets) 16 August 2022
Last month, Coinbase added the Celer Network to its roadmap, which consists of projects being considered for the exchange’s selection of supported cryptoassets. Coinbase says the roadmap is the crypto exchange’s way of communicating with market participants before they decide to list an asset in an effort to increase transparency.
Celer Network has witnessed some dramatic price action in recent weeks, first climbing over 81% from a July 26 low of $0.016 to a high of $0.029 on August 12.
CELR has since mirrored the overall recent market correction, in the red by 9.41% in the last 24 hours and trading at $0.022 at the time of writing.
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Featured Image: Shutterstock/tdhster/Andy Chipus
